A hacking attack on Uganda’s central bank has resulted in the theft of $17 million, triggering widespread debate and controversy about the perpetrators and the security of the bank’s systems.
The breach, initially reported by New Vision revealed that a group known as “Waste,” allegedly based in Southeast Asia, infiltrated the Bank of Uganda’s systems and stole 62 billion Ugandan shillings ($17 million). Sources cited by the publication indicated that the attack was sophisticated and executed with precision.
Contrary to this report, Daily Monitor stated that the actual amount stolen was 47.8 billion shillings. According to the newspaper, the stolen funds were transferred to two accounts in Japan and the United Kingdom during September.
Adding to the controversy, investigations have pointed to the likelihood of an “inside job.” Reports indicate that several employees of the central bank and Uganda’s Ministry of Finance have been questioned in connection with the theft. An audit report by the Bank of Uganda reportedly supports the theory that internal actors were involved.
The central bank later announced that it had successfully recovered 37 billion shillings of the stolen funds. However, investigations into the attack remain ongoing, with authorities attempting to unravel the full scope of the breach and identify all those responsible.
The incident has raised serious concerns about cybersecurity in Uganda’s financial institutions and prompted calls for tighter safeguards to protect critical systems.
For now, the Bank of Uganda continues to cooperate with investigators to ensure that the culprits are brought to justice, while efforts are being made to recover the remaining stolen funds.
